Accounting: Tools for Business Decisions Making, 8th Edition
By Paul Kimmel, Jerry Weygandt, and Jill Mitchell
Accounting: Tools for Business Decision Making by Paul Kimmel, Jerry Weygandt, and Jill Mitchell provides a practical introduction to financial and managerial accounting with a focus on how to use accounting information to make business decisions. Through significant course updates, the 8th Edition presents an active, hands-on approach designed to spark effective learning, develop critical thinking skills, and inspire and prepare the next generation of accounting and business professionals.
To ensure maximum understanding as students work through the course, WileyPLUS for Accounting provides an interactive learning experience with Adaptive Assignments and high-quality homework that’s mapped to Bloom’s Taxonomy and scaffolded in difficulty. The course’s varied assessment types include but are not limited to, algorithmic questions, multi-part problems, exercises, and accounting cycle review problems, many of which are presented within real-world contexts to help students understand not just the how and why of accounting, but its greater business applications as well. To further ensure the retention of foundational course material, WileyPLUS also offers interactive tools for bite-sized learning, and video-based instruction with 24/7, just-in-time homework help.
Throughout WileyPLUS, there are also a variety of practical activities to develop students’ decision-making mindsets within the accounting context. These include a running case with real world applications, Excel assignments, and various data analytics activities such as Tableau and Power BI Visualization Assignments, and Analytics in Action Problems. These applications all map to chapter material, making it easy for instructors to determine where and how to incorporate key skill development in their syllabus.
With Kimmel Accounting and WileyPLUS, students will build a strong understanding of introductory accounting foundations, while simultaneously learning the tools necessary to make successful business decisions in their future careers.
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Learn Accounting Concepts Efficiently
New! Accounting Cycle Simulation gives students scenario-based practice on the core concepts of the accounting cycle, along with step-by-step learning, and detailed coach’s comments for dynamic, just-in-time feedback. Through this guided, interactive experience, students will better understand how the accounting cycle works, and how each step can be applied to real accounting activities.
New! Chapter Overview Videos provide a modern, animated summary of key chapter topics and themes.
New! Interactive Tutorial Assignments provide a guided walkthrough of key chapter topics and resources, including Chapter Overview Videos, Lecture Videos for each learning objective, and select Real World Videos. To enhance student understanding and retention, each of these assignments include interactive Knowledge Check and Do It! questions as well. Interactive Tutorial Assignments can be customized and assigned as pre-lecture or practice, and can also be used as a supplementary lecture tool for asynchronous and hybrid courses.
Adaptive Assignments offer students an individualized learning path through the course content that is tailored to their specific needs. By continuously assessing student understanding and providing just-in-time instruction and targeted remediation, Adaptive Assignments close knowledge gaps through scaffolded learning. With increased flexibility, customization, and actionable analytics to support student and class intervention, these Adaptive Assignments make teaching and learning more efficient than ever.
Develop Data Analytics Skills
New! Data Analysis Technology Bootcamps in WileyPLUS give students a scaffolded introduction to some of the most popular technologies used in industry, including Excel, Power BI, Tableau, Alteryx, and SQL. Each bootcamp features video walkthroughs, automatically graded concept check questions, and application questions with accompanying video solutions. Build student confidence and technological agility with these customizable assignments.
Gradable Excel Assignments ask students to complete specific exercises in a live Microsoft Excel worksheet using formulas and functions, helping them develop their Excel knowledge. With exercises based on accounting questions from the book, automatic grading, and immediate and detailed cell-level feedback, students build key skills needed to be competitive in today’s job market, while enhancing their understanding of core accounting concepts.
Power BI and Tableau Visualization Assignments in WileyPLUS familiarize students with popular data analysis tools they will encounter in the workplace. Students analyze a variety of visualizations available in both software programs, completing assessment questions along the way to check their understanding and ability to interpret different forms of information, and practice making informed business decisions.
The WileyPLUS Data Set Library provides instructors with the flexibility to choose how they want to build and assess students’ data analytics skills. A variety of free data sets are available for you to access across all WileyPLUS Accounting courses, saving you valuable time in sourcing out data sets to use with projects, assessments, and homework.
Apply Concepts to Real World Scenarios
Small Business Videos and Real World Videos in WileyPLUS include assignable quiz questions and feature small business owners and well-known companies discussing how they use accounting functions in their day-to-day activities. These videos help contextualize course concepts and drive student engagement.
The Cookie Creations and Waterways continuing cases allows students to apply financial and managerial accounting topics to realistic company scenarios. As students work through the course, they’ll come across Cookie Creations and Waterways case references and assignments, allowing them to see how course topics come to life in various business scenarios and giving them the opportunity to practice accounting applications and functions.
What’s New to the 8th Edition
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- New! Chapter Overview Videos
- New! Generative AI activities available in the instructor’s manual. These activities are designed to help instructors incorporate AI tools into their accounting classroom in ways that promote critical thinking and discussion.
- New! Accounting Cycle Simulation helps students understand the accounting cycle through interactive, scenario-based practice with dynamic, just-in-time feedback.
- New! Interactive Tutorial Assignments provide a guided walkthrough of key chapter topics and resources, including Chapter Overview Videos, Lecture Videos for each learning objective, and select Real World Videos. To enhance student understanding and retention, each of these assignments include interactive Knowledge Check and Do It! questions as well. Interactive Tutorial Assignments can be customized and assigned as pre-lecture or practice, and can also be used as a supplementary lecture tool for asynchronous and hybrid courses.
- New! Lecture Videos are available for every section in the course and feature an accounting educator talking through the PowerPoint slides. There are embedded application videos where applicable, providing support for online and hybrid courses, flipped classrooms, and student study and review.
- New! Animations engage students within the course and help simplify key concepts, making it easier for students to understand and grasp foundational material.
- New! Data Analysis Technology Bootcamps in WileyPLUS give students a scaffolded introduction to some of the most popular technologies used in industry, including Excel, Power BI, Tableau, Alteryx, and SQL. Each bootcamp features video walkthroughs, automatically graded concept check questions, and application questions with accompanying video solutions. Build student confidence and technological agility with these customizable assignments.
- New! Additional Gradable Excel Assignments have been added to every chapter. These questions ask students to complete specific exercises in a live Microsoft Excel worksheet using formulas and functions, helping them develop their Excel knowledge. With exercises based on accounting questions from the book, automatic grading, and immediate and detailed cell-level feedback, students build key skills needed to be competitive in today’s job market, while enhancing their understanding of core accounting concepts.
- Additional Solution Walkthrough Videos have been developed, including new videos covering select Brief Exercises, to provide students with more problem-solving skill development and 24/7, just-in-time homework support.
- New! Analytics in Action End-of-Chapter Sections include feature boxes and activities that get students hands-on with data analysis applications within a real Excel environment and practice working with varied data sets, refine their Excel efficiency skills, create visualizations, and learn how to think critically while evaluating and interpreting the data.
- Updated and new test bank questions including 40 new Small Business Video questions, and a 30% test bank update focusing on enhancing or replacing existing T/F and MCQ questions with zero usage.
Content Changes
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- New bulleted text and numbered approach helps highlight key information and computations.
- New Data Analytics Insight Boxes, integrated throughout the content, highlight the use of data analytics by real-world companies.
- New chapter discussions of data analytics at the appropriate level for introductory accounting students.
- New Do It! questions at the end of key subsections for students to have additional practice opportunities at the moment of learning.
- Updated examples of real-world companies to increase student engagement and relevancy to today’s accounting and business profession.
- Updated discussions throughout to reflect the latest developments and new technology (i.e., cloud computing).
- Updated discussions within the accounting cycle chapters to ensure maximum student understanding.
- Updated illustrations throughout to include more visualizations of accounting concepts and to increase student engagement.
- Added Answers to Insight and Accounting Across the Organization Questions near the end-of-chapter.
- Moved A Look at IFRS section online.
JERRY J. WEYGANDT, PhD, CPA, is Arthur Andersen Alumni Emeritus Professor of Accounting at the University of Wisconsin—Madison. He holds a Ph.D. in accounting from the University of Illinois. Articles by Professor Weygandt have appeared in The Accounting Review, Journal of Accounting Research, Accounting Horizons, Journal of Accountancy, and other academic and professional journals. These articles have examined such financial reporting issues as accounting for price-level adjustments, pensions, convertible securities, stock option contracts, and interim reports. Professor Weygandt is author of other accounting and financial reporting books and is a member of the American Accounting Association, the American Institute of Certified Public Accountants, and the Wisconsin Society of Certified Public Accountants. He has served on numerous committees of the American Accounting Association and as a member of the editorial board of the Accounting Review; he also has served as President and Secretary-Treasurer of the American Accounting Association. In addition, he has been actively involved with the American Institute of Certified Public Accountants and has been a member of the Accounting Standards Executive Committee (AcSEC) of that organization. He has served on the FASB task force that examined the reporting issues related to accounting for income taxes and served as a trustee of the Financial Accounting Foundation.
Professor Weygandt has received the Chancellor’s Award for Excellence in Teaching and the Beta Gamma Sigma Dean’s Teaching Award. He is on the board of directors of M & I Bank of Southern Wisconsin. He is the recipient of the Wisconsin Institute of CPA’s Outstanding Educator’s Award and the Lifetime Achievement Award. In 2001 he received the American Accounting Association’s Outstanding Educator Award.
Paul D. Kimmel, PhD, CPA, received his bachelor’s degree from the University of Minnesota and his doctorate in accounting from the University of Wisconsin. He is a Senior Lecturer at the University of Wisconsin-Madison and was an Associate Professor at University of Wisconsin – Milwaukee. He was the recipient of the UWM School of Business Advisory Council Teaching Award, the Reggie Taite Excellence in Teaching Award, and a three-time winner of the Outstanding Teaching Assistant Award at the University of Wisconsin. He has public accounting experience with Deloitte & Touche (Minneapolis) and was a recipient of the Elijah Watts Sells Award for Honorary Distinction for his results on the CPA exam. He is a member of the American Accounting Association and the Institute of Management Accountants and has published articles in Accounting Review, Accounting Horizons, Advances in Management Accounting, Managerial Finance, Issues in Accounting Education, Journal of Accounting Education, and in other journals. He has authored a number of introductory accounting textbooks, and published papers and given numerous talks on issues related to accounting education.
Jill Mitchell, MS, MEd, CIA, is a Professor of Accounting at Northern Virginia Community College (NOVA), where she has taught face-to-face, hybrid, and online courses since 2008. Since 2009, she has been an Adjunct Instructor at George Mason University (GMU). She is former President of the Washington, D.C. Chapter of the Accounting and Financial Women’s Alliance (AFWA), and has served on the board of directors of the Virginia Society of CPAs (VSCPA). She is a member of the American Accounting Association (AAA) and the Institute of Internal Auditors. Jill serves on the AAA Education Committee and the Conference on Teaching and Learning Accounting (CTLA) Steering Committee. She received the Community College Champion Award for her work as a founding advisor for the National Society of Collegiate Scholars NOVA Chapter. Prior to joining the faculty at NOVA, Jill was a Senior Auditor with Ernst & Young’s Business Risk Services practice in Miami, Florida. She is a Certified Internal Auditor and holds an MS in Accountancy from the University of Virginia and a BBA in Management Information Systems from the University of Georgia honors program. Recently, she earned an MEd in Instructional Design Technology from GMU.
Jill is a 2019 recipient of the Outstanding Faculty Award, the Commonwealth’s highest honor for faculty of Virginia’s universities and colleges presented by the State Council of Higher Education for Virginia; the Virginia Community College System Chancellor’s Award for Teaching Excellence, the AFWA’s Women Who Count Award; and the AAA/J. Michael and Mary Anne Cook/Deloitte Foundation Prize, the foremost recognition of an individual who consistently demonstrates the attributes of a superior teacher in the discipline of accounting. Jill is also recipient of the AAA Two-Year College Educator of the Year Award for 2019 – 2020.
Chapter 1: Introduction to Financial Statements
Chapter 2: A Further Look at Financial Statements
Chapter 3: The Accounting Information System
Chapter 4: Accrual Accounting Concepts
Chapter 5: Merchandising Operations and the Multiple-Step Income Statement
Chapter 6: Reporting and Analyzing Inventory
Chapter 7: Fraud, Internal Control, and Cash
Chapter 8: Reporting and Analyzing Receivables
Chapter 9: Reporting and Analyzing Long-Lived Assets
Chapter 10: Reporting and Analyzing Liabilities
Chapter 11: Reporting and Analyzing Stockholders’ Equity
Chapter 12: Statement of Cash Flows
Chapter 13: Financial Analysis: The Big Picture
Chapter 14: Managerial Accounting
Chapter 15: Job Order Costing
Chapter 16: Process Costing
Chapter 17: Activity-Based Costing
Chapter 18: Cost-Volume-Profit
Chapter 19: Cost-Volume-Profit Analysis: Additional Issues
Chapter 20: Incremental Analysis
Chapter 21: Pricing
Chapter 22: Budgetary Planning
Chapter 23: Budgetary Control and Responsibility Accounting
Chapter 24: Standard Costs and Balanced Scorecard
Chapter 25: Planning for Capital Investments
Chapter 26: Statement of Cash Flows
Chapter 27: Financial Statement Analysis
Appendix F: Time Value of Money
Appendix G: Investments